#ETHPlunges5PercentBelow1800

Gold Strengthens, Market Watches Middle East Ceasefire and US NFP Data
Gold Focus:
Optimism Over Middle East De-escalation
Expectations for Fed Policy and US Employment Data
Thursday, June 4, 2026 – Gold prices opened higher at $4,431 per troy ounce amid growing market optimism about the potential easing of conflict in the Middle East. Positive sentiment emerged after the United States announced the achievement of a ceasefire agreement between Israel and Lebanon, raising hopes that diplomatic efforts could also extend to conflicts involving Iran. At the same time, the weakening of the US dollar index provided limited support for gold.
However, gold movements remain shadowed by concerns over inflation prospects and US monetary policy. Tensions in the Gulf region continue after reports of Iran’s attacks on several facilities in Kuwait and US military operations around the Strait of Hormuz, increasing the risk of global energy supply disruptions. Oil prices remaining high could sustain inflationary pressures, reinforcing expectations that the Fed will keep interest rates high for longer.
On the economic side, market participants are now awaiting a series of US employment data as indicators of future monetary policy direction. After the ADP Employment Change report showed stronger-than-expected private sector job growth, investor focus has shifted to the Nonfarm Payrolls (NFP) data and US unemployment rate to be released later this week. Additionally, statements from several Fed officials, including John Williams and Beth Hammack, who remain hawkish, further strengthen market expectations that the chances of a rate cut in the near future are limited.
Technically, the nearest support levels for gold are around $4,408 to $4,382, while the nearest resistance is at $4,478 to $4,522. If selling pressure increases, deeper support is seen at $4,312, while medium-term resistance is in the $4,592 area.